I had a question on one of my listings, a townhouse listed at $289,900 and let’s say the final sale price is $285,000, the question was:
What are the condo fees, taxes and insurance and with 20% down can we make positive cash flow on this property? Thanks W .
My answer is:
Condo fees are $100 per month,
taxes say $200 per month,
with 20% downpayment your payments based upon a $285000 purchase price,
thus say 57000 downpayment, gives you a 228,000 mortgage at 1199 at 4.00% variable rate
your total monthly payments 1199+200+100 equals 1500 per month,
the property would likely rent for 1450 to 1550 per month, so it’s right on the line.
Conclusion, this property is perfect for a 20% downpayment as an investment property.
So there you have it, simple calculations.
Thank you,
Mark
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